Wall St. opens higher on energy gains, rate cut hopes
U.S. stocks opened higher on Thursday, led by gains in energy shares, with hopes of an interest rate cut adding to the upbeat mood.
Aiding ‘organized crime’: India alleges 22 audit violations by Deloitte, KPMG arm in fraud case
India detected at least 22 violations of auditing standards by Deloitte Haskins & Sells and a KPMG affiliate while investigating a fraud at a financial company, leading it to seek a five-year ban on the auditors, according to government legal filings seen by Reuters.
Tesco has no plans to exit central Europe: chairman
British retailer Tesco has no plans to exit its central European operations, Chairman John Allan said on Thursday.
U.S. weekly jobless claims unexpectedly rise
The number of Americans filing applications for unemployment benefits unexpectedly rose last week, which could add to concerns that the labor market was losing steam after job growth slowed sharply in May.
China chip industry insiders voice caution on catch-up efforts
Since the U.S. government put Huawei Technologies Co Ltd on a trade blacklist, effectively banning American firms from doing business with it, China’s leaders have spoken boldly about achieving self-sufficiency in the critical semiconductor business.
Danone CFO says China’s baby formula plan ‘not a surprise’
China’s plan to increase local production of baby formula products has not come as a surprise to global dairy maker Danone, which has plans to launch a new ultra-premium product in that market, said Danone’s chief financial officer.
Pilot shortages, unsold planes weigh on ATR deliveries: sources
Franco-Italian turboprop maker ATR is tackling a slump in deliveries resulting from a combination of industrial delays, unsold aircraft and pilot shortages, industry sources said.
Tesco CEO not ready to check out in tough UK retail climate
The boss of Tesco said he had unfinished business at Britain’s biggest retailer after its quarterly sales growth slowed in a subdued grocery market under a cloud from poor early summer weather.
Exclusive: Petrobras ignored warnings about fuel broker implicated in graft probe
Brazil’s Petrobras found suspicious activity in its oil trading business – and failed to stop it – six years before an alleged bribery scandal erupted in that unit in 2018, according to three people with knowledge of the situation and documents seen by…
Alibaba files for HK listing that may raise $20 billion as soon as third quarter: source
China’s biggest e-commerce company Alibaba Group Holding Ltd has filed confidentially for a Hong Kong listing that could raise up to $20 billion as early as the third quarter of this year, a person with direct knowledge of the matter said.
